How To Donate A Car To Charity

Question by henry: Need ans. for DONATE a car to Church/rec. a BB value contrib.?
I am an ord minister. but am poor as heck. I want to know if anyone would get in trouble for donating cheap econo car and reciving a voucher for full BB top end price on their taxable contribution?? I am not a reg non profit

Best answer:

Answer by fire4511
You can take the value of a donated vehicle, up to 0, off your taxes. If the charity sells the car for more, they should notify you and you can then take the actual selling price as a donation.

The only exception to this is if the charity keeps the vehicle for their own use, and certifies this to you! In that case you can still take book (or actual retail) value as your deduction!

Examples:

You donate a car. The charity sells the car for 0.00 at auction. You can take the actual retail value of the car up to 0 as your deduction!

You donate a nice car. The charity sells the car for 00.00 at auction and notifies you of the amount of the sale. You can take a 00.00 tax deduction!

You donate a car. The charity decides to keep the car and register it in the name of the charity. They use it in the normal course of business. You can take the retail value (book value) as the deduction.

The tax deduction is only allowed if the donation is to a 501c3, registered charity. You can not take the deduction if you donate it to any other group or individual!

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Tags: ans., Church/rec., contrib., DONATE, Donation, Need, value